AVAX Holds Firm at $22 as Buyers Return, Posting 4% Daily Gain
Avalanche’s native token AVAX is flashing short-term strength as it rebounds from a key technical floor. The token has climbed 4% over the past 24 hours, firmly defending the $22 mark — a level that’s become a battleground between bulls and bears.
According to CoinDesk Research’s technical analysis model, AVAX’s resilience around $22 is a sign of underlying accumulation, especially as broader crypto markets see modest gains.
Technical Breakdown:
- A crucial support zone around $22.00 absorbed multiple sell-offs, preventing deeper breakdowns and inviting dip buyers back into the market.
- AVAX moved within a 3.89% range, from a low of $21.62 to a high of $22.64, signaling moderate but constructive price action.
- Volume surged 2.44% during peak movement periods, nearly tripling the 24-hour average — a sign of conviction-driven trading.
- The formation of higher lows throughout the session suggests a bullish reversal pattern is taking shape.
- A brief pullback saw AVAX fall 1.7% to $22.05, but the recovery was swift, keeping short-term momentum intact.
- Earlier, the token registered a sharp 5.9% intraday decline on high volume, now appearing as a shakeout that cleared weaker hands.
- New support is forming between $22.20 and $22.25, acting as a launchpad for a potential breakout.
- Immediate resistance remains at $22.40–$22.57; a move above this zone could confirm trend continuation.
With volume shifting from distribution to accumulation, and price structure firming up, AVAX appears poised for a potential breakout if resistance levels give way in the sessions ahead.
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